According to
Chinese Evening News, Belgium, the Netherlands and France responsible for
strategic oil reserves, it said European governments are currently
buying large quantities of crude oil and petroleum products to meet the EU to
reduce the impact of oil supply crisis The request.

It is reported
that the Belgian and Dutch oil reserves management agency announced that it has
purchased a total of 250,000 tons of diesel and gasoline, arrived in September
and October this year. The French authorities also said that in June this year,
bidding to purchase about 2.67 billion tons of diesel.

Oil purchases
could stabilize energy prices and help stabilize the Brent crude oil futures
market. Brent crude oil futures prices have risen about $ 10 (barrels) since
the tightening of the Middle East in early August and the supply of crude oil
in the North Sea, The

As governments
and other Western governments are likely to use oil reserves to curb oil prices
and avoid the high energy costs of sanctions against Iran, governments are
beginning to focus on strategic oil reserves.

Alain Demot,
general manager of Apetra, which manages Belgian strategic oil inventories,
said the purchase of oil was to meet the new EU requirements, the number of
strategic oil reserves equivalent to the daily average oil imports calculated
90 days of oil imports, or average Daily consumption of oil calculated 60 days
of oil consumption. In addition, the EU requires oil reserves of 1/3 of
petroleum products.

Alain Demot also
revealed that France will buy more oil in the coming months.

Dutch oil
authorities COVA said the tender has been issued to import 200,000 tons of
gasoline. Apetra said the tender imports of 57,000 tons of diesel. SAGESS,
which is responsible for oil reserves in France, said it had already purchased
200 million barrels of diesel by the end of June to meet the EU's requirements
for achieving its target by October 1.

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nonrenewable resource and the important strategic mineral resource. ACORE developed waste oil purifier to make waste oil renewable and reduce the waste.